The Tata Power Company Limited

TATAPOWER.NS

Independent Power Producers · Utilities

Price

₹380.55

+1.95 (+0.52%)

Market Cap

₹1.22T

Exchange

National Stock Exchange of India

Winston Score

Winston is serious

Below-average fundamentals — multiple weak pillars.

Data as of Aug 9, 2026 · filings through Jun 30, 2026

Share count falling — buybacks

−4.1% over 4y

The company has reduced its share count over this period, returning value to shareholders through buybacks.

Diluted shares outstanding: 3.34B (2022) → 3.20B (2026)

Tata Power is one of India's largest electricity companies. It generates, transmits, and distributes power to homes, businesses, and industries across India. The company produces electricity from coal, hydropower, solar, and wind sources, and it is part of the well-known Tata Group conglomerate.

Tata Power earns money by selling electricity directly to consumers and through long-term contracts with state utilities. It also installs rooftop solar panels for homes and businesses, which has become a fast-growing part of its business. The company operates mainly in India, with a significant presence in cities like Mumbai, Delhi, and Ajmer, and its connection to the trusted Tata brand gives it a reputational edge over smaller rivals. The key growth driver is India's rapid expansion of renewable energy capacity, as the government pushes to add large amounts of solar and wind power over the coming years, though rising debt from heavy infrastructure investment remains a meaningful financial risk.

Winston Score History

Growth Profile

For growth stock investors

When traditional metrics don't capture the full picture, these are the signals growth stock investors use instead.

Revenue Growth

-12.8% YoY

YoY Growth Rate

Revenue declining

EPS Growth

-4.3% YoY

YoY Growth Rate

Earnings declining

R&D Spend

$0/ year

↓ Declining (-100% vs prior year)

0.0% of revenue

Below sector average (1%)

R&D spend declining — could signal cost-cutting or efficiency

Insider Activity

47.4%ownership

Insiders own a meaningful stake in the company

Cash Position

Cash flow positive

$0 cash & investments

Company generates more cash than it spends — no dilution risk from fundraising

Revenue declining

The Tata Power Company Limited's revenue is actually shrinking. In a growth stock, that removes the core investment thesis. The low Winston Score here may be warranted — unless there's a turnaround story.

The Winston Score above measures business quality today. Growth stocks often score lower because they invest in the future rather than maximising current profits. These metrics show what matters most for evaluating that future.

Score breakdown

Every number that matters to educated investors.

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Quality

Gross Margin

23.5%

Thin — 23.5% gross margin

Operating Margin

14.5%

Healthy — 14.5% operating margin

ROCE

2.4%

Weak — 2.4% return on capital

ROIC between 0% and 5%. They earn a few cents back per dollar invested in the business.

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Growth

Sales YoY

-4.2%

Shrinking sales (-4.2% YoY)

EPS YoY

-4.6%

Earnings shrinking (-4.6% YoY)

Slight earnings drop. Typical near a cyclical low.

EPS Consistency

5/8 quarters

Mixed — about half the quarters showed growth

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Cash Flow

Cash Conversion

21%

Weak — only 21% of profit becomes cash

FCF Margin

-9.5%

Burning cash (-9.5%)

Free cash flow is negative. They are burning cash, not generating it.

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Stability

Debt / Equity

1.89

Elevated debt (1.89)

Interest Cover

1.50x

Dangerous — barely covers interest (1.5x)

Interest coverage between 1 and 3. Profits cover interest, but with little room to spare.

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Valuation

P/E Ratio (TTM)

31.5x

Pricey — P/E 31.5

P/E above the market average. People are paying up for expected growth.

P/E vs Forward

+8.2

GROWING

Earnings expected to grow meaningfully — cheaper on forward P/E (31.5 → 23.2)

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Dividends

Dividend Yield

0.66%

Small dividend — 0.66% yield

Modest yield. The bulk of any return needs to come from price appreciation.

Dividend Growth

+42.3%

Dividend growing fast (42.3% YoY)

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